07.02.2017 / 16:33
Dissemination of a Voting Rights Announcement transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.


Wilhelmstrasse 67
73433 Aalen
By fax in advance: +49 7361 5279020 462

2 February 2017

Disclosure pursuant to Section 27a (1) of the German Securities Trading Act (Wertpapierhandelsgesetz - WpHG)

Dear Sir or Madam,

With regard to the objectives pursued with the acquisition of the voting rights published with the notification of 27 January 2017, we hereby notify you pursuant to Section 27a (1) sentence 3 No. 1-4 WpHG that

1. the investment represents a medium to long-term financial shareholding with the aim of generating trading profits, under which Sterling Strategic Value Fund S.A., formally known as Sterling Strategic Value Limited, holds shares in SHW AG since 2016,

2. we are considering to obtain further voting rights within the next twelve months through acquisition or otherwise, depending on the development of the share price of SHW AG.

3. we reserve the right to indirectly influence, in the interest of a balanced consideration of the shareholdings, appointments to the administrative, managing and supervisory bodies of the issuer,

4. we do not seek a significant change to the capital structure of the company, in particular regarding the ratio of equity and debt financing, but reserve the right to possibly influence the dividend policy of the company, within the framework of the statutory shareholder rights.

Furthermore, we notify you pursuant to Section 27a (1) sentence 4 WpHG with regard to the origin of the funds used for the acquisition of the voting rights, that the voting rights we have acquired directly have been financed exclusively with own resources.

Kind regards,

Sterling Strategic Value Fund S.A.

Avv: Massimo Pedrazzini

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